Gross international reserves of Georgia increased by 30.8% y/y to a new record high level of US$ 5.4bn in Jul-23, according to the National Bank of Georgia (NBG), reads the recent Weekly Market Watch of Galt & Taggart.
On a monthly basis, the reserves were up by 7.3% (+US$ 369.3mn). Changes in reserves were attributed to the government and banking sector FX operations, likely also to NBG’s FX purchases, information will be available on 25 August.
